Diamond Offshore Drilling, Inc. (NYSE:DO) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Friday.

Several other brokerages also recently issued reports on DO. Jefferies Group LLC set a $14.00 target price on Diamond Offshore Drilling and gave the company a “hold” rating in a research note on Wednesday, May 24th. Seaport Global Securities reissued a “sell” rating on shares of Diamond Offshore Drilling in a research note on Monday, July 31st. Pareto Securities raised Diamond Offshore Drilling from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, August 18th. Bank of America Corporation downgraded Diamond Offshore Drilling from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $12.00 in a research note on Friday, June 30th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $15.00 price objective (down previously from $19.00) on shares of Diamond Offshore Drilling in a research note on Monday, May 1st. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Diamond Offshore Drilling has a consensus rating of “Hold” and an average price target of $15.58.

Diamond Offshore Drilling (DO) opened at 11.38 on Friday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 9.25 and a beta of 1.12. Diamond Offshore Drilling has a 52-week low of $10.06 and a 52-week high of $22.65. The company’s 50-day moving average is $11.41 and its 200-day moving average is $13.60.

Diamond Offshore Drilling (NYSE:DO) last issued its earnings results on Monday, July 31st. The offshore drilling services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.21. The company had revenue of $399.30 million for the quarter, compared to the consensus estimate of $381.50 million. Diamond Offshore Drilling had a return on equity of 5.77% and a net margin of 11.19%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. On average, analysts expect that Diamond Offshore Drilling will post $0.93 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Karp Capital Management Corp acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $680,000. BlackRock Inc. raised its position in shares of Diamond Offshore Drilling by 7,375.1% in the first quarter. BlackRock Inc. now owns 7,550,886 shares of the offshore drilling services provider’s stock valued at $126,177,000 after buying an additional 7,449,872 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Diamond Offshore Drilling during the first quarter valued at about $785,000. Wayne Hummer Investments L.L.C. acquired a new position in shares of Diamond Offshore Drilling during the second quarter valued at about $145,000. Finally, Bank of Montreal Can raised its position in shares of Diamond Offshore Drilling by 38.1% in the first quarter. Bank of Montreal Can now owns 39,299 shares of the offshore drilling services provider’s stock valued at $657,000 after buying an additional 10,841 shares in the last quarter.

About Diamond Offshore Drilling

Diamond Offshore Drilling, Inc provides contract drilling services to the energy industry. As of December 31, 2016, the Company had a fleet of 24 offshore drilling rigs. As of December 31, 2016, its fleet consisted of four drillships, 19 semisubmersible rigs and one jack-up rig. Its fleet enables it to offer a range of services, primarily in the floater market, including ultra-deepwater, deepwater and mid-water.

Analyst Recommendations for Diamond Offshore Drilling (NYSE:DO)

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